There are many programs and rebates available these days for single- and multi-family homes, as well as commercial and industrial properties looking to save money and improve their energy efficiency. These programs are managed by various levels of government in order to ensure that businesses and families seeking to reduce their energy consumption have the ability and financial incentives required to achieve their goals.
This program compensates participating businesses for reducing their energy usage during specific periods of high demand. When wholesale prices are high and the system is experiencing peaks in energy consumption, there is an increased risk to the stability of the power grid. Businesses who incorporate this program into their energy cost management strategy help to reduce the cost of power as well as the need to build additional power generation capacity. They can reduce their energy usage by reducing equipment use, producing their own power, or shift production to off-peak hours.
There are two main ways to participate in this program:
Demand Response DR3
This contractual initiative provides higher incentive rates for large businesses. Once your company agrees to reduce its energy during periods of peak demand, you may qualify for reduced energy cost and increased incentive rates. For more information, visit the Save on Energy website.
peaksaver PLUS™ for Small Business
Limited to businesses with an annual demand of less than 50kW, this program controls the air conditioning unit within the business to limit power usage. This program goes into effect on hot summer weekdays when the demand for electricity is highest, typically Mon-Fri from noon to 7pm. For more information, visit the peaksaver page on the Save on Energy website.
Heating & Cooling Incentive
Available to the owners of single- and multi-family dwellings and businesses, the Heating and Cooling Initiative provides incentives of up to $650 for reducing the energy usage of furnaces and central air conditioning units. Eligibility requirements include:
- The building in question must be located in Ontario
- The existing furnace or air conditioning unit must be owned by the owner of the property
- The building must be connected to the local distribution company’s distribution system; and
- You must not be a dealer or distributor of heating or cooling systems
For more information on qualifying for this incentive, check out the terms and conditions on the Save on Energy Heating and Cooling Initiative page.
Other Programs for Businesses
Additional incentive programs for businesses include: